A Contribution That Is Restricted by the Donor to Be

question 3

Multiple Choice

A contribution that is restricted by the donor to be held in perpetuity and for which the investment income can be spent at the discretion of a nongovernmental,not-for-profit hospital's governing board,will be reported as an increase to

• A)Permanent funds.
• B)Current restricted funds.
• C)Permanently restricted net assets.
• D)Specific purpose assets.

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Definitions:

Expense

The cost or expenditure incurred in the transaction of an activity or the procurement of goods and services.

On-Campus Dorm

Residential facilities located on a college or university campus where students can live while attending the institution.

Manage Money

The process of organizing, planning, and controlling financial resources effectively to meet personal or business goals.

Budget

An estimate of income and expenditure for a set period of time.